Posted on 01/07/2012 5:49:28 PM PST by Libloather
U.S. Savings Bonds Go Paperless
January 4, 2012 10:30 PM
PITTSBURGH (KDKA) — U.S. savings bonds enclosed in birthday cards have been an American tradition for more than 70 years.
But from now on, purchasers will have to be computer savvy.
As of January 1, the U.S. Treasury declared that all bonds must be purchased online through the website www.treasurydirect.gov.
The buyer can download a “gift certificate” indicating the amount of the bond, and for what occasion.
(Excerpt) Read more at pittsburgh.cbslocal.com ...
I wish the dollar would.
Well if they’re no longer worth the paper they’re printed on what are they worth?
I found this to be a royal pain this year
I used to buy a few for my Goddaughter for special occassions every year
now she has to have an account open in her name and i have to send a virtual gift to it and she would have to accept it
well poo poo on that
i just give cash now
I found this to be a royal pain this year
I used to buy a few for my Goddaughter for special occassions every year
now she has to have an account open in her name and i have to send a virtual gift to it and she would have to accept it
well poo poo on that
i just give cash now
First indication that TPTB will default on internal Treasury debt first.
Hey Larry, how do I skip paying back this loan?
Just hit the delete key Curly.
To wit:
http://www.spiegel.de/international/business/0,1518,806990,00.html
Franz Herrmann, head of the German Association of Savers (BDS), has spent half a century trying to be a good investor. As a child, he filled piggy banks and, as an adolescent, he put money away in his savings account. Later came a building loan contract, in addition to 12 life insurance policies. “Money attracts money,” his father liked to tell him, quoting a German saying. “I was hardwired for saving money,” Hermann explains.
At 52, he says he figured out “what’s going on.” He’d earned money through his business selling beer steins and jewelry in Munich’s city center. But he became convinced that he’d actually lost money through his savings efforts and cancelled his insurance policies, while the small interest earnings from his remaining savings accounts were “eaten up by inflation,” he says. To fight back, Herrmann formed the BDS. Now he makes appearances around the country, warning of “money-destroying instruments.” He’s certain that saving is “state-sanctioned robbery.”
Becoming poorer by saving? As radical as Herrmann’s perspective may sound, a growing number of people share his mistrust.
Oh goodie. Hit a few keys on Timmy Geithner’s computer and they can say ‘What Savings Bond?”
In my mind’s eye (This is FR, so of course I am not going to read the article) the governement then sends the recipient an e savings bond to print out,
or if they want to help save the planet, a refurbished Walmart, or Amazon gift card..I envision the words Wal*Mart or Amazon scratched out with a magic marker, then the words US Treasury Savings Bond written under that.
The old magnetic strip will be replaced with a new one from the Government indicating the amount of the bond at maturation..
This will create many new jobs /s
Saving pennies on printing and tossing away Trillions.
I see absolutely no potential for abuse, in terms of somebody arbitrarily wiping out your bonds with the pressing of a computer key, or somebody giving themselves a million bonds, just because they can.
Nope, nothing like that can happen here.
Government agencies used to have Savings Bonds drives and hit up employees for payroll deduction. Then payroll deduction was canceled, and employees were told if they wanted bonds, to go buy them on their own. At least they are looking out for their own employees.
I'm not saying its a good idea, but last year I-bonds paid a lot more than savings or short term CDs, even counting the 3 month interest penalty if you cash out between 1 and 5 years.
I cashed in a sh*tload of them last year to survive the year-long divorce process. I was basically forced to buy them all through the 80’s while I was in the Army. (It was either THAT or contribute to The United Way - NOT!)
I mailed one to my Ex with my wedding band taped to it. It was a $500 bond that my folks had bought us for our wedding nearly 20 years ago; it was worth under $300.00.
We. Are. So. Screwed.
Let me repeat that: WE. ARE. SO. SCREWED.
I dunno who that dude is.....but I LIKE him!!
HA!!
Oh, I like him, too! He and the Treeing Walker Coon Hounds he raises are out hunting tonight. Nearly full moon and we’ve had NO snow (weird for us) so they’re all in Hog Heaven. :)
Hot date with him tomorrow...if he can be dragged out of the woods at some point. Eh. He’ll get hungry...eventually...
*SMIRK*
Why shouldn’t they be paper-less, after all... they are becoming worth-less.
I'm hunting butt off until the end of bow season here.....
Have not seen Mr. Big as of yet....but had plenty of chances at Mr's. "I need two more years to grow"...bucks.
We shall see!!
It'll save a ton of money going paperless, but no-one has indicated what the feds are going to do with the savings.
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